RNS Hotlist with Zak Mir: JLP, TEK, HARL, TRR, LVCG, EDX, ENSI, ONC, SOLG & SLE via Vox Markets

Jubilee Metals Group (JLP), a diversified metals processing company, said that Leon Coetzer, CEO, purchased 270 000 shares at 9.1p Ollie Oliveira, Independent Non-Executive Chairperson of the Company, purchased 326 000 shares at 9.114p.

Author @ZaksTradersCafe

The company was also notified that Colin Bird, former Non-Executive Chairperson of the Company, purchased 200 000 shares at 9.37p.

Comment: It is not surprising that management and former management are leading from the front in buying JLP shares after the recent dip which bore all the hallmarks of being an over-reaction to the downside.

Tekcapital (TEK), the UK intellectual property investment group, announced that Guident Ltd. has executed a letter of intent with Auve Tech OÜ to provide remote monitoring and control services for Auve Tech’s autonomous vehicles. The company said by combining Auve Tech’s advanced Level 4 autonomous vehicles with Guident’s RMCC software, the two companies will bring an enhanced level of safety to self-driving technology. Guident’s patented software provides human-in-the-loop supervision, adding an extra layer of security to the Auve Tech’s new MiCa autonomous shuttle.

Comment: Courtesy of Tekcapital, we are introduced to the concept of “human-in-the-loop” as well as the progress in the self-driving space.

Harland & Wolff (HARL), the UK quoted company, announced that further to the announcement made on 30 December 2022 in relation to the termination of the Saipem project, negotiations have now successfully concluded with Saipem. The contract value has been finalised at £16m, representing approximately 70% of the contract value as per the deed of variation signed in September 2022 as part of descoping from eight jackets to four. The entire amount has now been paid in full and final settlement of the contract. The company said the Saipem project was the first project to arrive in Methil after our acquisition of the facility. With the previously announced delays and the changed economic position of this project, it was in the company’s best interests to draw the project to a mutually acceptable close.

Comment: It would appear that H&W has kitchen sinked its Saipem experience, and looking to focus on the execution of the Fleet Solid Support Programme, which has so inspired retail investors of late.

Trident Royalties Plc (TRR), the diversified mining royalty company, noted a recent update on the Thacker Pass lithium project, in Nevada, by the project operator, Lithium Americas Corp. The company said that Thacker Pass is a long life mine of significant strategic importance in the context of the United States’ transition to net zero. Following last week’s ruling on the Record of Decision, and with this injection of capital from GM’s historic investment in LAC, construction can commence in short order with first production expected in H2 2026.

Comment: It would appear that Thacker Pass is fast becoming a big deal for Trident, a point underlined by the way that in the recent announcement regarding the project, the shares pushed to new all time highs.

Live Company (LVCG) announced that Bricklive Animal Paradise and Supersized have signed a contract with RWS for Detroit Zoo. The Supersized Giant Centipede, Assassin Bug, Red Spitting Cobra and Dolphins, Penguins, Gorillas amongst many others will be on display at the zoo throughout the summer holidays from Saturday 27th May to Monday 4th September 2023. As well as the animals and bugs there will be an interactive Jeep and Head-in-the-Hole selfie zones and a sit in Venus Fly Trap.

Comment: If nothing else the concepts of exotic centipedes, bugs and cobras underlines the fun part of the Live Company offering, “head-in-the-hole” selfie zones notwithstanding. Perhaps they will contribute to the shares continuing their tentative recovery off recent lows.

EDX Medical Group (EDX) which develops innovative digital diagnostic products, announced that it has acquired the entire issued share capital of Torax Biosciences Ltd. by the issue of 1,666,667 new shares at £0.06 per share. The company said this strategic acquisition of Torax which will add further strength and depth to EDX Medical’s innovation and product development capabilities. It enables it to provide an even wider range of testing solutions and data analysis. The Torax knowledge and capabilities in immunochemistry will accelerate its development of robust and innovative tests for cancer and other significant diseases.

Comment: Under the radar EDX appears keen to make progress in the shape of the Torax deal, with its founder Professor Chris Evans leading the charge. Ideally, the market will start to take notice soon.

EnSilica (ENSI), a mixed signal chipmaker, announces half year results for the six months ended 30 November 2022. Revenue was up 23.5% to £8.6 million (H1 FY22: £7.0 million). Adjusted operating profit up to £0.15 million (H1 FY22: £0.17 million loss). Adjusted EBITDA was up significantly to £0.66 million (H1 FY22: loss of £0.08 million). The company said it has made solid start to the current financial year, buoyed by existing contracts that underpin FY 2023 market expectations.

Comment: We can join Ensilica in celebrating it swing from the red to the black, a fundamental inflection point that the market has been celebrating since November, when the shares were half the value they are now.

Oncimmune (ONC), the immunodiagnostics group, announced a collaboration with Siemens Healthineers aimed at improving malignancy risk assessment of Indeterminate Pulmonary Nodules. The company said its EarlyCDT Lung blood test has proven utility in successfully triaging patients with cancerous nodules into early intervention. Combining this test with Siemens Healthineers’ AI-Rad Companion Chest CT will improve diagnostic accuracy in those patients with more difficult to diagnose lung cancer.

Comment: After an extended bear run in the shares, there has been a turnaround since December, something that the latest high profile announcement with Siemens can only help to underpin.

SolGold (SOLG) provided an update regarding the company’s activities and the progress of the previously announced Cornerstone Capital Resources Inc. merger transaction. The company said it remains fully committed to ensuring that all shareholders are rewarded for funding the Cascabel discovery. The top priority is closing the Cornerstone transaction and advancing the ongoing strategic review. In parallel, it is focused on optimizing the organization and ensuring a disciplined approach to the allocation of resources aligned with the Company’s value maximization objectives. The delays are inexcusable.

Comment: Companies chastising themselves is an interesting approach, especially with regards to delays, in that it is in the nature of the stock market, with all the legal and regulatory overload. Perhaps the message to SolGold is for the company to not be so hard on itself.

Late in yesterday’s stock market session, San Leon (SLE), the independent oil and gas company focused on Nigeria, noted the announcement made on 16 February 2023 by Decklar Resources Inc. in Canada. Decklar and its co-venturer Millenium Oil & Gas Company Limited have received another payment for the sale of crude oil from the Oza Oil Field under the contract with the Edo Refinery and Petrochemicals Company Limited in Edo State, Nigeria. SLE said it remains committed to the proposed sale of its non-core investments in DPL, although the completion of this proposed sale still remains subject to the purchaser finalising its own funding arrangements.

Author @ZaksTradersCafe

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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